How much would you pay for someone to manage your company's social media?
Hey everyone, I've got a question about your personal opinion on a reasonable price point for social media management. I know most companies do this internally but let's pretend you want to pay an agency or social media expert to handle it for you (please note I said expert, not a teenager who plays on Facebook all day).
If you paid someone to do this, let's say they would manage two accounts,Facebook and Twitter, and would post up to ten posts per day (mostly on Twitter).
The social media manager would also respond to any inquiries by customers, media, etc. within a max of 12 hours (excluding holidays and weekends -- then it may be a max of 48 hours). This person would also make a point of engaging with the online community each day; so if it's a brand for baby toys, then the social media manager would interact with mommy bloggers at least 1-2x/day. So there is a large marketing component of this service as well.
Overall we're talking about roughly 5-6 hours of work each week. So if you wanted to pay someone to do all of that -- how much would you consider a reasonable rate per month? What price would be "absolutely worth it" and what price would be "definitely not worth it?"
There's no right or wrong answer, just your opinion. Please and thanks for your help!
Last time that I paid someone to do something similar I paid $15/hour and that person was in Florida.
BUT, as you said it's best to have somebody do this in-house.
"Building a community around your brand isn't just about the strength of your social media presence. It’s not about how you manage your social media outlets or whether you’re on Facebook, Google+, or Twitter. It’s not about how many blog posts you write or how often you use video or email marketing.
It’s about building a company."
Interesting question and agreed with Clive that it's more challenging that it looks. Some of the factors I'd look into:
1) What is their social media presence like?
Extreme example here but if you're a musician and you can get a celebrity like Lady Gaga or Justin Bieber (two biggest people on Twitter) to tweet about your band, that would be hugely valuable. Now my example is over the top but I think their existing social media presence/connections would be a huge part of what I'd look for.
2) How important is customer service to you?
I like Farzad's question of "Is it a Social Media manager to promote Mercedes, or is it a Social Media manager to promote burgers?" One can potentially make you tens of thousands of dollars with one customer.
3) What quality of content do you want on your feed?
I feel like there's a limited upside here. I'd consider the difference in connections people have to be far greater than the difference in feed quality. But a good manager can definitely help here.
Overall, here in Boston, an average social media manager probably gets anywhere from $10/hour-$25/hour, which is then turned into a monthly fee based on how many accounts they manage, expected time, etc. However, somebody with connections could be worth much more than that.
This question is a little more tricky than I first thought.
You're effectively selling an information-based service. And it's the information element that makes the question tricky. The value of information depends on how it is deployed (used).
In social media, the information is intended to establish and maintain a 'social connection' with customers or potential customers, thereby creating brand momentum.
I think this type of service would best suit companies that sell aspirational products. A B2B company selling nuts and bolts would probably think your service has a low value.
Your business model depends on suitable companies outsourcing part of their customer relationship process to you, so the question can be answered by asking "How much does it cost them to hire someone to work in CR internally?". You must be more cost effective - so it's going to be less than they would their staff.
Farzad's rates seem a little high to me - though not if you're Mercedes - but then there's only one of them.
Hope this helps.
What a great question!
Short answer: starting at $35 per hour and then up from there, as much as $120/hour depending on the industry and level of expertise.
Social Media management is a new area, and still many are trying to figure out this new territory. Reminds me when web design was a new territory back in mid 90's.
The pay for a Social Media manager will depend on the scope of the project and its industry. If the manager is involved in content creation and engaging with & building a community, then some knowledge of that industry is required and the pay will depend on two factors:
1- the industry
2- the level of expertise and knowledge of the manager
For example, is it a Social Media manager for a shoe company to promote shoes, or is it for a company that caters to Physicists?
Is it a Social Media manager to promote Mercedes, or is it a Social Media manager to promote burgers?
Again, it would start at $35/hour and then it'll go up from there depending on what the manager provides.
Our rates start at $50/hour, or $800/month flat rate and then goes up from there.